General
End of year processing
You will find important information relating to year-end transactions processing for individual insurance and investment.
INDIVIDUAL INSURANCE
New business
|
ACTIVITY |
REQUIREMENT |
DEADLINE TO RECEIVE THE REQUIREMENT IN ORDER TO PROCESS THE ACTIVITY IN 2016* |
|
Application data entry |
Fully completed application (including signature pages of the electronic express application) must be received at the New Business department |
Wednesday, December 21, 2016 |
|
Policy issue |
Receipt of the final requirement at the Underwriting department |
Tuesday, December 20, 2016 |
|
Policy settlement |
Receipt of the final settling requirement at the New Business department |
Thursday, December 22, 2016 |
Policy changes requiring underwriting (in-force business)
|
ACTIVITY |
REQUIREMENT |
DEADLINE TO RECEIVE THE REQUIREMENT IN ORDER TO PROCESS THE ACTIVITY IN 2016* |
|
Policy change data entry (to start the underwriting process) |
Fully completed request must be received at the In-force Business department |
With commission adjustment: |
|
Confirmation of the policy change |
Receipt of the final requirement at the Underwriting department |
Monday, December 19, 2016 |
|
Settlement of the policy change |
Receipt of the final settling requirement at the Policy change department |
Thursday, December 22, 2016 |
*Important: before 12:00 p.m.
INVESTMENT
Transaction dates for segregated funds
There will be no unit value calculation on December 26 and 27, 2016, and January 2, 2017. Transaction requests received on these days will be processed on the following business day (i.e., December 28 or January 3) using the unit value on that date.
|
RECEIPT OF TRANSACTION REQUEST |
TRANSACTION DATE |
|
December 26, 27, 28 (before 2 p.m.) |
December 28 |
|
December 29 (before 2 p.m.) |
December 29 |
|
December 30 (before 2 p.m.) |
December 30 |
|
January 2 (before 2 p.m.) |
January 3 |
Payment dates for RRIFs
Since our offices will be closed until January 3, RRIF payments will be sent to the financial institutions as of January 4, 2017. Your clients will receive their payments thereafter.
FINAL SPRINT TO QUALIFY!
You have until the end of December 2016, to combine your individual insurance and investment sales credits to obtain a Merit bonus.
If you joined SSQ during the year, sales credits required to be eligible for a bonus will be pro-rated. Contact your SSQ representative for more information.
Note
For sales of eligible SSQ GIFs, amounts must be received by SSQ, Life Insurance Company Inc. no later than 2 p.m. on December 30, 2016, and be invested on the same day. For individual insurance sales, the insurance contract must be issued by December 29, 2016, at the latest.